A charitable remainder annuity trust is required to pay out a fixed dollar amount to the income beneficiary or beneficiaries. A charitable remainder unitrust must in general pay out to the income beneficiary or beneficiaries a fixed percentage of the annually redetermined net fair market value of the...

by Matthew Cavitch, J.D. *
An S corporation can save certain shareholders—shareholders who are treated as non-passive under Section 469—the 3.8% net investment income tax. The 3.8% net investment income tax is imposed to the extent the taxpayer's modified adjusted gross income exceeds...

Executors of decedents' estates required to file federal estate tax return must also file a form reporting estate tax value of assets distributed to beneficiaries. Certain beneficiaries must use a consistent value for purposes of determining income tax basis and consequently capital gains and depreciation...

by William H. Byrnes IV and Marvin Petry * @
A multinational enterprise is ordinarily organized as a parent company having subsidiaries, branches, or joint ventures in foreign locations where the enterprise may have employees, agents, business assets, or customers. The parent and its subsidiaries...

Under IRC Section 1014, the basis of property acquired from a decedent is the fair market value of the property on the date of the decedent's death. [ IRC § 1014(a)(1) .] The provisions of IRC Section 1014, along with the Treasury Regulations under IRC Section 1401, contain the rules for determining...

by Jessica L. Kerner, J.D., LL.M. *
In 2007, a hotel room shortage in San Francisco prompted two roommates to create a website to rent out air mattresses in their apartment. Less than eight years later, the company they founded, Airbnb, has been valued at more than $25 billion. ["Value of Airbnb...

On April 8, 2016, the IRS and Treasury took additional action against corporate inversions and issued temporary, proposed, and final regulations targeting inversion transactions. Among the proposed regulations were much anticipated rules that address earnings strippings transactions. This article briefly...

by Dmitriy Kustov CPA EA MS Tax *
Sub K's Cubist Period
The word, "partnership," has so many common place meanings and could mean so much these days that we should not blame those taxpayers who do not understand all the technicalities of partnership for tax purposes. Curiously, the...

by Mark A. Muntean *
Introduction
A new law allows the Internal Revenue Service ("IRS" or the "Service") to revoke or deny passports for certain taxpayers who owe unpaid federal taxes. This change to the tax law was included in the Fixing America's Surface Transportation...

by Max Choi, Dr. Rudolph Jacob and Dr. Susanne O'Callaghan *
The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act"), was passed in response to the financial crisis of 2007-2009. The purpose of this exploratory study is to examine whether the Dodd-Frank...

INTRODUCTION
When the Tax Reform Act was enacted 30 years ago, Congress was able to implement major tax reform by collaborating across bipartisan lines. [1] It was the last time the Internal Revenue Code underwent a major overhaul, and the elements that came together to create such a major change...

I. Overview II. Income Tax Treatment [1] Income Tax Deferred Until Receipt by Employee or Beneficiary [2] Income Tax on Distributions [a] Averaging Methods No Longer Generally Available [b] Rollovers of Lump Sum Distributions [c] 10% Penalty on Early Withdrawals [d] Income in Respect of a Decedent III...

Treasury published long-awaited proposed revisions to the existing I.R.C. Section 2704 regulations on August 4, 2016. 81 Fed. Reg. 51413 . If published as final regulations in current form, the revisions will inhibit transfers of closely-held business interests to family members. Treasury provided a...

by Shahzad A. Malik J.D. LL.M and Ryan C. Gaglio J.D. *
In General
"There is no dearth of cases in this province of tax law. So large is their number and disparate their facts, that for every parallel found, a qualification hides in the thicket. At most they offer tentative clues to what is...

The Qualified Terminable Interest Property (QTIP) Trust was a creation of ERTA-1981 pursuant to IRC § 2056(b)(7) which qualifies for the marital deduction, even if the surviving spouse is not given a general power of appointment during life or at death. Under a QTIP Trust, the surviving spouse need...

Proposed and temporary regulations under IRC Section 901(m) affect covered asset acquisitions, which are transactions that are generally treated as asset acquisitions for U.S. income tax purposes and that either are treated as stock acquisitions or are disregarded for foreign income tax purposes. [TD...

by Joseph J. Calvanico, MAI, FRICS *
Many people have said that real estate valuation is an “art,” not a “science.” It is reasonable to believe that five appraisers would offer five different opinions of value. That is most certainly the “art” portion, as everyone...

by Alison Stemler *
One of the main purposes of the Dodd-Frank Act is to promote financial stability in the US economy, including through a significant number of provisions relating to financial institutions. [Incentive-Based Compensation Arrangements, 81 Fed. Reg. 37669 (proposed June 10, 2016) ...

By Alison Stemler, J.D. *
The golden parachute rules in IRC Section 280G state that if an employee or contractor receives or will receive compensation that is triggered by or closely related to a change in control, and that change in control compensation is in total more than three times the employee...